Reinsurance News
Cyber insurance and reinsurance news, covering the growth of cyber reinsurance underwriting, the risks faced, major loss events and cyber reinsurance product development trends.
Cyber risk is an emerging and fast-growing class of insurance and reinsurance business, so our cyber insurance news follows industry trends and reports on what is happening in the cyber underwriting market.
23rd March 2017
Insurer and reinsurer XL Catlin has named James Tuplin Head of Cyber & Technology, Media and Telecoms, International, based in the firm's London office. In his new role Tuplin will be responsible for the underwriting of cyber insurance and professional indemnity insurance for the technology and media sectors. Tuplin has roughly 15 years ... Read the full article
17th March 2017
Pool Re, the UK government and industry backed terrorism reinsurance scheme, is ploughing ahead with its plans to add property coverage for terror-related cyber events to its offering. According to its Chief Executive Officer (CEO), Julian Enoizi who spoke with Reuters last week, the coverage arrangements will include incentives to ... Read the full article
10th March 2017
Pool Re, the UK government and industry backed terrorism reinsurance scheme, is planning to extend its coverage to include cyber attacks on property, says the entities Chief Executive Officer (CEO), Julian Enoizi. Speaking to Reuters, Enoizi said "Insurance is there for the unimaginable - we're here to insure the unforeseen," and revealed that ... Read the full article
9th March 2017
The adoption of driverless or autonomous cars and other vehicles will completely transform the motor insurance sector, according to a report from Fitch Ratings. The impact on reinsurance markets is as yet unclear, although many believe that a general shrinking of the motor insurance risk pool will occur, as accidents become ... Read the full article
6th March 2017
Swiss Re has launched its new re/insurance think tank, the Swiss Re Institute, with the release of a report that investigates the growing sphere of cyber risk, examining constraints in risk assessment as well as potential new models for risk analytics and coverage. Opportunities for reinsurance are expanding in the fast-developing ... Read the full article
1st March 2017
A new report claims that insurance and reinsurance protection alone is insufficient to manage the growing threat of cyber attacks, citing that cyber controls utilised by organisations to mitigate data breaches, and similar, might not be up to the task. The analysis and report on the capabilities of cyber controls comes ... Read the full article
21st February 2017
Former U.S. Homeland Security Secretary Tom Ridge’s cyber advisory firm, Ridge Global, has announced plans to form a strategic and leadership partnership with Risk Cooperative to offer a new blend of advisory, education, technology and risk-transfer solutions. The firms will be led by Tom Ridge, who will serve as Chairman, and ... Read the full article
16th February 2017
Cyber security regulations being put in place by the New York Department of Financial Service (NYDFS) could help to increase demand for cyber risk insurance cover, and ultimately reinsurance, but may also increase the exposure and loss potential re/insurers hold, says Fitch Ratings. The regulations coming into effect on March 1st ... Read the full article
14th February 2017
Barbican Insurance has appointed two new executives to head up its cyber division, naming Graeme King as new business group leader, and Richard Spotswood as underwriting manager. Both practitioners join Barbican’s Syndicate 1955 from Allianz, where King served as practice leader and underwriter for PI and cyber, and Spotswood acted as ... Read the full article
9th February 2017
With a newly launched cyber insurance product broker Arthur J. Gallagher is targeting some of the gaps in existing cyber coverages, a step that could help to open up some of the untapped cyber exposure to the market which could generate significant reinsurance demand. Backed by A rated Lloyd's of London ... Read the full article
1st February 2017
Reinsurance broker Aon Benfield has hired U.S. intelligence expert Craig Guiliano, as Technology Consultant in its Cyber division, as it looks to improve its understanding of cyber risks across the world. Guiliano joins the firm with more than 13 years of experience in conducting human and business intelligence, the assessment of cyber ... Read the full article
3rd January 2017
QBE Insurance Group has agreed a multi-year deal to licence the RMS Cyber Accumulation Management System, with catastrophe risk management firm RMS. The risk modeller explains that the agreement will allow the insurer's cyber business to model a variety of cyber catastrophe events. The growing threat of cyber attacks across the ... Read the full article
